GBP/JPY – 30M – SELL

The pair British Pound/Japanese Yen (GBP/JPY) jumps from the descending trendline down.

A continuation of the bearish trend down to the next support level at 207.551 will persist.

Caution: A possible counter-trend in the direction of resistance at 208.77400 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.

And also a ‘StochRSI %K line crosses below %D line’ indicator signal is discovered. The indicator shows ‘StochRSI %K line crosses below %D line’. this is usually a bearish chart signal. The currency pair is likely to fall.

And also a ‘Bearish Engulfing’ candlestick pattern is discovered. The candles show ‘Bearish Engulfing’. which is a negative pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish Engulfing’ heading down is 79%.

208.77400 – 209.544 – 209.001 – 207.551 – 207.628 – 208.171 —
208.77400 – 208.64300 —
57.46305401315 – 49.545745653304 —
208.77400 – 1770953400 —
– 1770953400

Trading Signals: FOREX – GBP – GBP/JPY – JPY – Bearish Engulfing – Double top chart pattern – – – – – – – –